
Customs seeks reduction in import tariffs on new and luxurious vehicles to boost revenue
Ali disclosed that the agency has targeted a total of N1.465 trillion to be raked into the Federation account this year, 2021 and that the N1.465 trillion consists of N1.267 trillion for Federation and N198.00 billion for Non- Federation.
According to him, when compared with the 2020 revenue target, the 2021 revenue target is higher by N85 billion or 5.80 Percent, just as he said that the Service has proposed a budget expenditure of N242.45 billion for the 2021 fiscal year and would be sourced from 7% cost of collection for 2021 which is N96 94 billion; 60% CISS, put at N47. 01 billion ; 2% VAT Share of NCS which is N07.40 billion; Outstanding Liabilities of N91.10 billion, totally, N242.45 billion.
Giving a breakdown, he explained that the expected income will be utilized as follows: Personnel cost, N99.72 billion, representing 41.13% ; Overhead Cost is N19.53 Billion, representing 8.06%; Capital Cost, N123.20 billion, representing 50.81%, with a grand total of N242.45 billion, representing 100.0 per cent.
The Senate Committee on its part, took a swipe at the Customs over its concession of collection of import duties, saying there is nowhere in the world where such is carried out, adding that it is even unacceptable that such an assignment was contracted to foreigners to handle instead of Nigerians or staff of the agency to be engaged.
Speaking during the budget defence, Chairman of the Committee, Senator Alimikhena threatened that the Senate will not pass the Customs budget, especially the Capital, if the agency fails to forward to the Committee before Monday, details of capital projects for 2021; the staff nominal roll, Personnel Cost, over 30 billion unaccounted funds for ongoing projects, adding that money appropriated for anything especially for recruitment must be utilized and accounted for.
Speaking further, the Committee asked the Customs Service not to execute its proposed 171 new projects when it has 338 old and uncompleted projects, adding that old projects must not be abandoned and new ones being proposed in line with the position of President Muhammadu Buhari that old projects must be completed, with no abandoned projects.
The Committee has however summoned the NCS boss, Col. Ali to appear before it on Monday with all the required documents.
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